Market Overview:
Market
Research Future (MRFR) has published a report stating that the global cardiovascular
application market size is market to expand at a notable CAGR of 7.10% during
the forecast period of 2022-2030 and reach the valuation of USD 32021.96 Mn by
the end of 2030. Rapid advancement in technology is aiding the healthcare
sector for the development of high-tech medical devices that can be used to
ensure proper functioning of vital
organs. Cardiovascular application
includes the use of synthetic materials and advanced medical devices to help
control abnormal functioning of the
heart.
Key Players:
Global cardiovascular
application market players that are Abbott (the U.S.),
General Electric Company (the U.S.), Medtronic (Ireland), Boston Scientific
Corporation (the U.S.), KONINKLIJKE PHILIPS N.V. (The Netherlands), Terumo
(Japan), Stryker Corporation (the U.S.), Edwards Lifesciences (the U.S.),
Allergan Inc. (the U.S.), Smith & Nephew plc (the U.K), CR Bard Inc. (the
U.S.), Sonova Holdings (Switzerland), and Dragerwerk AG & Co. KGa (Germany)
Market Drivers and Restraints:
Increasing prevalence of cardiovascular diseases caused
due to changing lifestyle and rapid rise in geriatric population are inducing
high demand for advanced medical devices, resulting in the significant
expansion of the global cardiovascular application market. The introduction of
upgraded versions of pacemakers that can
be integrated with smartphones to keep a real-time check on the functioning of
the heart is
impacting positively on the growth of the global cardiovascular application
market. However, lack of awareness regarding advanced medical devices, high cost of treatment and medical devices and
poor healthcare facilities in the underdeveloped regions are likely to pose potential threat for the growth of the global
cardiovascular application market during the forecast period.
Market
Segmentation:
The global cardiovascular application market insights
has been segmented on the basis of devices and end users. Based on devices, the
cardiovascular application market has been segmented into cardiac pacemaker, cardiac defibrillators,
cardiac monitors, and others. The cardiac monitors
segment is sub-segmented into resting ECG, ECG monitors, holter monitors, implantable loop recorder, and
others. The cardiac defibrillator segment is sub-segmented into implantable
cardioverter defibrillator and external
defibrillator. The cardiac pacemaker segment is sub-segmented into implantable cardiac pacemaker and external cardiac pacemaker. The implantable cardiac
pacemaker sub-segment includes single-chamber pacemakers, dual-chamber
pacemakers, and biventricular pacemakers.
Based on end users, the cardiovascular application
market is segmented into cardiac care centers, ambulatory centers & home
care, academic institutes, and others.
Regional Analysis:
Geographically,
the global cardiovascular application market has been segmented into four major
regions such as the Americas, Europe, Asia Pacific and the Middle East and
Africa. The Americas account for a major market share in the global cardiovascular application market
owing to the rapid development of advanced medical devices in the well-developed healthcare sector of this
region and increasing incidences suffering from cardiovascular disorders as a
result of changing lifestyle.
The
cardiovascular application market in the Europe region is expanding at a
noteworthy growth rate due to rise in
prevalence of diabetes and cardiovascular diseases and high healthcare
expenditure by the population in this region. The Asia Pacific region is
projecting fastest growth in the global cardiovascular application market due
to the increasing government support for development
of affordable treatments and rise in adoption of advanced cardiovascular
devices in the emerging economies in this region. The cardiovascular
application market is projecting slow growth in the Middle East and Africa
region due to the unavailability of proper health
care services in the underdeveloped areas of this region.
About US:
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